Variable Annuity Sold to an 85 Year Old Nursing Home Woman

[Freddie]

The woman needs to some serious income planning or she will outlive her assets soon and will be booted out of the nursing home. $550,000 or slightly less means she could burn through her money in 8 years or less. The daughter may be getting the mother back in a few years and good luck getting her a medicaid nursing home.

An 85-year old in a nursing home in variable annuities and common stock is not suitable at all.